Survey: More Investors Say Bitcoin Likely To Hit $10K Instead of $30K

Nearly a quarter of retail investors consider the cryptoasset class “garbage”

article-image

Blockworks exclusive art by axel rangel

share

key takeaways

  • The price of bitcoin was about $20,500 at 4 pm ET on Monday, up 6.2% from a week ago
  • Retail investors have a more pessimistic outlook than institutional investors, Bloomberg’s MLIV Pulse survey shows

While bitcoin has plummeted about 70% from its all-time high last November and about 30% in the last month, many investors believe the cryptoasset’s price will get much worse, according to Bloomberg’s MLIV Pulse survey.

About 60% of respondents indicated that bitcoin (BTC) is more likely to dip to $10,000 rather than rally back to $30,000. The survey was conducted from July 5 to July 8 and included 950 investor responses. 

The price of bitcoin was about $20,500 at 4 pm ET on Monday, down 1.6% from a day ago and up 6.2% in the past seven days. BTC’s market capitalization was down to $390 billion, dropping 36% from a year ago, according to Blockworks Research data.

Bitcoin’s market capitalization | Source: Blockworks Research

Crypto’s market capitalization dropped from its peak of $3 trillion last November to less than $1 trillion Monday.

Nearly a quarter of the surveyed retail investors consider the cryptoasset class “garbage,” according to the survey, compared to 18% of professional investors. The highest percentage of the latter category — 32% of professional investors — reported being “open-minded but skeptical.”

About 28% of the overall respondents expressed strong confidence that cryptocurrencies are the future of finance.

The latest bearish cycle for bitcoin is close to testing the 80% drops seen in past crypto winters, according to Edward Moya, senior market analyst at OANDA.

“The $14,000 level seems like it could provide significant support if bitcoin breaks later this week,” he wrote in a note on Monday. “This week’s inflation report could be the trigger for one last major plunge for cryptos.”

Federal Reserve officials are not ruling out another interest rate hike of 75 basis points to combat inflation, according to minutes released last week. 

“Despite all the pessimism and negative headlines for bitcoin, the fact that it is putting up a fight at the $20,000 level is a promising sign,” Moya added.

The survey also found that about 9% of respondents think of NFTs as an investment opportunity, with the majority seeing the digital assets as art projects or status symbols.  

NFT (non-fungible token) marketplace OpenSea traded $646.6 million in volume during June, down more than 65% from May.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

Firedancer begins delegating stake to Solana validators

article-image

A vote ending Monday could introduce a new layer of security for Ethereum’s largest liquid staking protocol

article-image

Framework’s Michael Anderson explains what tokens need in order to be successful

article-image

Conferences are pop-up innovation clusters—and filters for the riff-raff

article-image

Tariff front-running may have caused an artificial bounce in economic data earlier this year

article-image

Waka Flocka Flame-linked BaseDrop is raising some eyebrows